Jamdat Mobile (NASDAQ:JMDT)
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From Jun 2019 to Jun 2024
Global wireless entertainment publisher JAMDAT Mobile
Inc. (NASDAQ:JMDT) today reported that it received an automatic
notification from The Nasdaq Stock Market informing JAMDAT that it was
not in compliance with Nasdaq's audit committee requirement as set
forth in Marketplace Rule 4350 due to the vacancy created by the
resignation of Rajiv Dutta as a director and member of the audit
committee, effective November 11, 2005. Prior to his resignation,
Dutta served as chairman of the audit committee of the Board and
qualified as a "financial expert."
Marketplace Rule 4350(d)(2)(A) requires the audit committee of
each Nasdaq issuer to have at least three independent members on its
audit committee (as the term "independent" is defined in Marketplace
Rule 4200(a)(15) and Rule 10A-3(b)(1) under the Securities Exchange
Act of 1934, as amended), at least one of whom must be a financial
expert. Currently, JAMDAT's audit committee consists of only two
members, neither of whom qualifies as a financial expert. Marketplace
Rule 4350(d)(4)(B) provides that a company that has one vacancy on its
audit committee will have until the earlier of its next annual
shareholders' meeting, or one year after the vacancy occurred to fill
the vacancy. JAMDAT intends to comply with this requirement by
appointing a third independent member who qualifies as a financial
expert to its audit committee within the time allowed under the Nasdaq
rules.
About JAMDAT Mobile
JAMDAT Mobile Inc. is a global publisher of wireless entertainment
applications, including games, ring tones, images and other content.
JAMDAT's application portfolio is based on original and licensed
intellectual properties and includes JAMDAT Bowling, Tetris(R),
Downtown Texas Hold 'Em, Lemonade Tycoon(R), Bejeweled(R), The Lord of
the Rings(R), Tony Hawk's(R) Underground and Scrabble(R). JAMDAT
distributes its applications through wireless carriers around the
world. For more information, please visit www.jamdat.com.
Safe Harbor Statement - JAMDAT Mobile Inc.
This press release may include forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995,
including statements related to anticipated revenues, expenses,
earnings, operating cash flows, the outlook for JAMDAT's markets and
the demand for its products. Factors that could cause JAMDAT's actual
results to differ materially from these forward-looking statements
include its ability to integrate the acquisition of Blue Lava
Wireless, anticipated growth in the handset market, its ability to
effectively market and sell products in diverse market segments, its
reliance on a limited number of products and third-party vendors and
distributors, its ability to expand studio operations, increases in
fulfillment costs, disruptions to information technology systems,
unpredictable events and circumstances relating to international
suppliers, increased competition, government regulatory action and
general economic conditions. Please refer to JAMDAT's reports and
filings with the Securities and Exchange Commission for a further
discussion of these risks and uncertainties. Readers are cautioned not
to place undue reliance on forward-looking statements, which speak
only as of the date they are made. JAMDAT undertakes no obligation to
update publicly any forward-looking statements to reflect new
information, events or circumstances after the date they were made or
to reflect the occurrence of unanticipated events.
(C)2005 JAMDAT Mobile Inc. JAMDAT, JAMDAT Mobile and the bubbles
logo are trademarks of JAMDAT Mobile Inc.